Banesto, La Caixa, CAM and Caja Madrid have launched aggressive marketing campaigns to attract home buyers in order to reduce their stock. Like in a high street after Christmas, buyers have now 50% off marketing campaigns plus added value messages such as “we –the Bank- pay the notary cost” among others.

But the strategy of the Banks does not seem to be limited to marketing and discounts. The General Council of the Association on Spanish States Agents (Consejo General de los Colegios de Agentes de la Propiedad Inmobiliaria (COAPI)) has recently reported that 70% of the property sales of State Agents are “blocked” by the Banks because the clients do not get finance. In short: the Council point out that the Banks only finance Bank’s property transactions.

Read the completed article and its conclussions: Spanish Bank property portfolio